Business Income Tax Release for February

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c i

Form 990“T

Department of the Treasury
Internal Revenue Service (77)

AMENDED RETURN - NET OPERATING LOSS CARRYBACK

Exempt Organization Business Income Tax Return

(and proxy tax under section 6033(e))

For calendar year 2007 or other tax year beginning JUL 2007 , and ending JUN 30# 2008

OM^O 1545-0687

200 /

Open to Public Inspection for
501(cX3) Organizations Only

A 1 1 Check box If

address changed

B Exempt under section
[X]501(c)(3 )

□ 408(e) n220(e)

□ 408A □530(a)

1 1529(a)

Print

or

Type

Name of organization ( 1 1 Check box if name changed and see instructions.)

FRIENDS OF THE GREENSBORO
PUBLIC LIBRARY. INC.

Q Employer identification number
(Employees' trust, see instructions
for Block D on page 0 )

01-0674221

Number, street, and room or suite no. If a P.O. box, see page 9 of instructions.

P.O. BOX 3178

E Unrelated business activity codes
(See instructions for Block E
on page 9 )

722210

City or town, state, and ZIP code

GREENS BORO . NC 27402

C Book value of all assets
at end of year

40.152.

F Group exemption number (see instructions for Block F.)^

G Check organization type ► LXJ 501(c) corporation I I 50 1(c) trust I I 401 (at trust I I Other trust

H Describe the organization's primary unrelated business activity. ► SALES OF COFFEE AND BAKED GOODS

I During the tax year, was the corporation a subsidiary in an affiliated group or a parent-subsidiary controlled groupi*

If Tes," enter the name and identifying number of the parent corporation. ►

► □ Yes [X] No

J The books are in care of ► BARRY STRULSON

Telephone number ► 336-373-4100

Part 1

Unrelated Trade or Business Income

(A) Income

(B) Expenses

(C) Net

1a

Gross receipts or sales 56 .105.

b

Less returns and allowances c Balance ^

1c

56.105.

2

Cost of goods sold (Schedule A, line 7) i

2

29.455.

CS

3

Gross profit. Subtract line 2 from line 1c

3

26.650.

26.650.

4a

Capital gam net income (attach Schedule D)

4a

e>Nii

b

Net gam (loss) (Form 4797, Part II, line 17) (attach Form 4797)

4b

G

Capital loss deduction for trusts

4c

ecf

5

Income (loss) from partnerships and S corporations (attach statement)

5

m

itji.it

6

Rent income (Schedule C)

6

7

Unrelated debt-financed income (Schedule E)

7

8

InteresL annuities, royalties, and rents from controlled organizations (Sch. F)

8

m

9

Investment income of a section 501(c)(7), (9), or (17) organization
(Schedule G)

9

§

10

Exploited exempt activity income (Schedule 1)

10

11

Advertising income (Schedule J)

11

12

Other income (See instructions; attach schedule.)

12

13

Total. Combine lines 3 throuoh 12

13

26.650.

26.650.

Part H I Deductions Not Taken Elsewhere (See instructions for limitations on deductions )

(Except for contributions, deductions must be directly connected with the unrelated business income )

14 Compensation of officers, directors, and trustees (Schedule

15 Salaries and wages

16 Repairs and maintenance

17 Bad debts

18 Interest (attach schedule)

19 Taxes and licenses

20 Charitable contributions (See instructions for limitation

21 Depreciation (attach Form 4562)

22 Less depreciation claimed on Schedule A and elsewhere on return

23 Depletion

24 Contributions to deferred compensation plans

25 Employee benefit programs

26 Excess exempt expenses (Schedule I)

27 Excess readership costs (Schedule J)

28 Other deductions (attach schedule) SEE STATEMENT

29 Total deductions. Add lines 14 through 28

30 Unrelated business taxable income before net operating loss deduction. Subtract line 29 from line 13

31 Net operating loss deduction (limited to the amount on line 30)

32 Unrelated business taxable income before specific deduction. Subtract line 31 from line 30

33 Specific deduction (Generally $1,000, but see instructions for exceptions)

34 Unrelated business taxable income. Subtract line 33 from line 32. If line 33 is greater than line 32, enter the smaller
of zero or line 32

02 ^^ 8-08 LHA For Privacy Act and Paperwork Reduction Act Notice, see instructions.

14

15

22.786.

16

17

18

19

20

22b

23

24

25

26

27

28

2.167.

29

24.953.

30

1.697.

31

1.697.

32

33

34

0.

Form 990-T (2007)

3

01-0674221

■ “ 2007 AMENDED FORM 990-T ATTACHMENT

FRIENDS OF THE GREENSBORO PUBLIC LIBRARY

FORM 990-T

OTHER DEDUCTIONS

STATEMENT

DESCRIPTION

AMOUNT

SUPPLIES 929.
BANK FEES 306.
PROFESSIONAL FEES 1,564.
INCOME TAXES 511.

TOTAL TO FORM 990-T, PAGE 1, LINE 28 3,310.

STATEMENT ( S ) 8

AMENDED RETURN:

CARRYBACK OF NET OPERATING LOSS FROM 2008 RETURN <10, 7 4 7. >

AMOUNT AVAILABLE FOR CARRYBACK TO 2007 6,337.

AMOUNT OF NET OPERATING LOSS DEDUCITON ON LINE 31 PART II <4,410.>

STATEMENT ( S ) 7

2007 AMENDED FORM 990-T ATTACHMENT

Form S90-T (2006)

FRIENDS OF THE GREENSBORO
PUBLIC LIBRARY. INC.

01-0674221

Page 4

Schedule G

- Investment Income of a Section 501(c)(7), (9), or (17) Organization

(see instructions on page 22)

1 Description of income

2 Amount of income

3 Deductions
directly connected
(attach schedule)

4 Set-asides
(attach schedule)

5 Total deductions
and set-asides
(col 3 plus col 4)

(1)

(2)

(3)

(4)

Enter here and on page 1.
Part 1. line 9, column (A)

Enter here and on page 1,
Part I. line 9. column (B)

Totals

►

0.

Schedule I - Exploited Exempt Activity Income, Other Than Advertising Income

(see instaictions on page 22)

1 Description of
exploited activity

2 Gross

unrelated business
income from
trade or business

3 Expenses
directly connected
with production
of unrelated
business income

4 Net income
(toss) from
unrelated trade
or business
(column 2 minus
column 3) If a
gain, compute
cols 5 through 7

5 Gross income
from activity that
IS not unrelated
business income

j

6 Expenses
attributable to
column 5

7 Excess exempt
expenses (column
6 minus column 5,
but not more them
column 4).

(1)

(2)

(3)

(4)

Totals >■

Enter here and on
page 1. Part I,
line 10, col (A).

0.

Enter here and on
page 1, Part 1.
line 10, col (B).

0.

Enter here and
on page 1,

Part II, line 26

0.

Schedule J - Advertising Income (see instructions on page 23)

Part I Income From Periodicals Reported on a Consolidated Basis

1 Name of periodical

2 Gross
advertising
income

3 Direct
advertising costs

4 Advertising
gam or (loss) (cot
2 minus col 3), if
a gam, compute
cols 5 through 7

5 Circulation
income

g Readership
costs

7 Excess
readership costs
(column 6 minus
column 5, but not
more than
column 4).

(1)

(2)

(3)

(4)

0.

0.

0.

Part II

Income From Periodicals Reported on a Separate Basis (For each penodicai listed m Part ii. fill m
columns 2 through 7 on a line-by-line basis.)

(1)

(2)

(3)

(4)

(5) Totals from Part 1

0.

Totals, Part II (lines 1-5) ►

Enter here and on
page 1, Part I,
line 11. col (A).

0.

Enter here and on
page 1, Part I
line 11, col (B).

0.

Enter here and
on page 1 ,

Part II, tine 27

0.

Schedule K - Compensation of Officers, Directors, and Trustees (see mstmctions on page 23)

1 Name

2 Title

3 Percent of
time devoted to
business

4 Compensation attributable
to unrelated business

MARILYN MILLER

PRESIDENT

. 0 0%

RENEE GRIFFIN

VICE PRESIDENT

. 00%

WALTER FAISON

TREASURER

. 0 0%

SUSAN ANDREWS

SECRETARY

. 00%

Total. Enter here and on page 1, Part II, line 14 ^

0.

Form 990-T (2006)

623731

01-30-07

2007 AMENDED FORM 990-T ATTACHMENT

FRIENDS OF THE GREENSBORO

Form 6^0-T (2006) PTim.Tr' T.TRR . INC . ni-flfi7A5‘21 Page 3

Schedule C - Rent Income (From Real Property and Personal Property Leased With Real Property)(see mstr. on pg 20)

1 Description of property

2 Rent received or accrued

|3\ From personal property (if the percentage of
' rent for personal property is more than
10% but not more than 50%)

|b) From real and personal property (if the percentage
'of rent for personal property exceeds 50% or if
the rent is based on profit or income)

3 Deductions directly connected with the income in
columns 2(a) and 2(b) (attach schedule)

Total income. Add totals of columns 2(a) and 2(b). Enter
here and on page 1, Part I, line 6, column (A)

Schedule E - Unrelated Debt-Financed Income (See instructions on page 20)

1 Description of debt-financed property

2 Gross income from
or allocable to debt-
financed property

Total deductions.

Enter here and on page 1,
Part I, line 6, column (B)

3 Deductions directly connected with or allocable
to debt-financed property

(s) Straight-line depreciation
(attach schedule)

(b) Other deductions
(attach schedule)

4 Amount of average acquisition
debt on or allocable to debt-financed
property (attach schedule)

5 Average adjusted basis
of or allocable to
debt-financed property
(attach schedule)

6 Column 4 divided
by column 5

7 Gross income
reportable (column
2 X column 6)

8 Allocable deductions
(column 8 X total of columns
3(a) and 3(b))

Enter here and on page 1,

Part 1, line 7, column (AX

Totals

►

0.

Total dividends-received deductions included in column 8

Enter here and on page 1 ,
Part I, line 7, column (B)

Schedule F - Interest, Annuities, Royalties, and Rents From Controlled Organizations (See instructions on page 21 )

Exempt Controlled Organizations

1 Name of Controlled Organization j

2

Employer Identification
Number

3

Net unrelated income
(loss) (see instructions)

4

Total of specified
payments made

5 Part of column 4 that is
included in the controlling
organization's gross income

6 Deductions directly
connected with income
in column (5)

1 Nonexempt Controlled Organizations

7 Taxable Income

1

8 Net unrelated income (loss)
(see instructions)

9 Total of specified payments
made

1 0 Part of column 9 that is included
in the controlling organization's
gross income

1 1 Deductions directly connected
with income in column 10

023721/01-30-07

Form 990-T (2000)

01-0674221

Part IV

2007 AMENDED FORM 990-T ATTACHMENT
FRIENDS OF THE GREENSBORO
PUBLIC LIBRARY. INC

Part III I Tax Computation

35 Organizations Taxable as Corporations. See instructions for tax computation.

Controlled group members (sections 1561 and 1563) check here ► I I See instructions and;
a Enter your share of the $50,000, $25,000, and $9,925,000 taxable income brackets (in that order):

(1) k I (2) 1$ I (3) 1$ I

b Enter organization's share of; (1) Additional 5% tax (not more than $11,750) 1$ |

(2) Additional 3% tax (not more than $100,000) |

c Income tax on the amount on line 34 ^

36 Trust s Taxable at Trust Rate s. Se e instructions for tax computation. Income tax on the amount on line 34 from;

I I Tax rate schedule or I I Schedule D (Form 1041) ^

37 Proxy tax. See instructions ^

38 Alternative minimum tax

39 Total. Add lines 37 and 38 to line 35c or 36. whichever aoolies

Tax and Payments

40a Foreign tax credit (corporations attach Form 1118; trusts attach Form 1 1 16) 40a

b Other credits (see instructions) 40b

c Gene ral business cr edit. C heck here and indicate which forms are attached;

I I Form 3800 I I Form(s) (specify) ► 40c

d Credit tor prior year minimum tax (attach Form 8801 or 8827) 40d

e Total credits. Add lines 40a through 40d

41 Subtract line 40e from line 39

42 Other taxes. Check if from: I I Form 4255 I I Form 861 1 I I Form 8697 I I Form 8866 I I Other (attach schedule)

43 Total tax. Add lines 41 and 42

44a Payments: A 2005 overpayment credited to 2006 44a

b 2006 estimated tax payments 44b

c Tax deposited with Form 8868 44c 512 .

d Foreign organizations: Tax paid or withheld at source (see instructions) 44d

e Backup withholding (see instructions) 44e

f Credit for federal telephone excise tax paid (attac h Form 8913) _44|

g Othe r credits and payments: I I Form 2439

CZI Form 4136 EZI Other Total ► _44fl

45 Total payments. Add lines 44a through 44g

46 Estimated tax penalty (see instructions). Check if Form 2220 is attached ► I I

47 Tax due. If line 45 is less than the total of lines 43 and 46, enter amount owed ^

48 Overpayment. If line 45 is larger than the total of lines 43 and 46, enter amount overpaid ^

49 Enter the amount of line 48 you want Credited to 2007 estimated tax '

Part V I Statements Regarding Certain Activities and Other Information (See instructions on page i8)

1 At any time during the 2006 calendar year, did the organization have an interest in or a signature or other authority over a financial account

(bank, securities, or other) in a foreign country? If YES, the organization may have to file Form TD F 90-22.1. If YES, enfer the name of the
foreign country here ►

2 During the tax year, did the organization receive a distribution from, or was it the cantor of, or transferor to, a foreign trust?

If YES, see page 5 of the instructions for other forms the organization may have to fite

3 Enter the amount of tax-exempt interest received or accrued during the tax year ^

Schedule A - Cost of Goods Sold. Enter method of inventory valuation ^ N/ A

44b

44c

512.

44d

44e

441

44g

Refunded

Yes No

X

1 Inventory at beginning of year

2 Purchases

3 Cost of labor

4 a Additional section 263A costs
b Other costs (attach schedule)

5 Total. Add lines 1 through 4b

0_. 6 Inventory at end of year

28 , 346 . 7 Cost of goods sold. Subtract line 6

from line 5. Enter here and in Part I, line 2

8 Do the rules of section 263A (with respect to

property produced or acquired for resale) apply to

the organization?

6

7

2

Under penalties of perjury. I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true,
cortect, and complete Declaration of preparer (other than taxpayer) is based on ait information of which preparer has any knowledge

Paid

Preparer’s
Use Only

623711

01-30-07

Signature of officer Date

Preparer's ^ Date

signature FjqhnNY C. WOOD. CPA 12/08/09

HAYNES STRAND AND COMPANY PLLC
BOX 10949

ZIP coda r GREENSBORO . NORT

27404-

I May the IRS discuss this return with I
the preparer shown below (see I

instructions)? m Yes □ No

Preparer's SSN or PTIN

P00370070

ElN 56-1582677

Phone no. 336-286-3204

Form 990-T (2000)

2007 AMENDED FORM 990-T ATTACHMENT

AMENDED RETURN - NET OPERATING LOSS CARRYBACK

Form 990-T

Department of the Treasury
Internal Revenue Service

Exempt Organization Business income Tax Return

(and proxy tax under section 6033(e))

For calendar year 200B or other tax year beginning JUL 1 . 2006 . and ending JUN 30. 2007

OMB No. 154^6^

2006

Open to Public Inspection for
5(jl(cX3) Organizations Only

A 1 1 Check box if

address changed

B Exempt under section
E50KCM3 )

□ 408(e) 1 1220(e)

□ 408A □530(a)

1 1529(a)

Print

or

Type

Name of organization ( I I Check box if name changed and see instructions.)

FRIENDS OF THE GREENSBORO
PUBLIC LIBRARY. INC.

Q Employer identification number
(Employees' trust, see instructions
for Block D on page 0 )

01-0674221

Number, street, and room or suite no. If a P.O. box, see pag^^nstroctrons

P.O. BOX 3178

E Unrelated business activity codes
(See instructions for Block E
on page 0 )

722210

City or town, state, and ZIP code ^ {

GREENSBORO. NC 27402

C Book value of all assets
at end of year

39.796.

F Group exemption number (see instructions for Block F.)^

G Check organization type ► LxJ 501(c) corporation 1 I 501(c) trust I I 401(a) trust I 1 Other trust

H Describe the organization's primary unrelated business activity. ► SALES OF COFFEE AND BAKED GOODS

I During the tax year, was the corporation a subsidiary in an affiliated group or a parent-subsidiary controlled group? ► I I Yes I X I No

If *Yes.' enter the name and identifying number of the parent corporation. ►

J The books are in care of ► BARRY STRULSON Telephone number ► 336-373-4100

1 Part 1

Unrelated Trade or Business Income

1 (A) Income

(B) Expenses

(C) Net

la Gross
b Lessi
2 Cost (

1 receipts or sales 55,455.

returns and allowances c Balance ^

1c

goods sold (Schedule A, line 7)

2

28.346.

3 Gross profit. Subtract line 2 from line 1c
4a Capital gam net income (attach Schedule D)
b Net gam (loss) (Form 4797, Part II, line 17) (attach Form 4797)
c Capital loss deduction for trusts

5 Income (loss) from partnerships and S corporations (attach statement)

6 Rent income (Schedule C)

7 Unrelated debt-financed income (Schedule E)

8 Interest, annuities, royalties, and rents from controlled organizations (Sch. F)

9 Investmentmcomeofasection501(c)(7), (9), or (17) organization
(Schedule G)

10 Exploited exempt activity income (Schedule 1)

1 1 Advertising income (Schedule J)

12 Other income (See instructions; attach schedule.)

3

27.109.

4a

4b

4c

s

6

7

8

9

10

11

12

13 Total. Combine lines 3 throuoh 12

13

27.109.

27.109.

Psrt II I Deductions Not Taken Elsewhere (See instructions for limitations on deductions.)

(Except for contnbutions, deductions must be directly connected with the unrelated business income )

1 4 Compensation of officers, directors, and trustees (Schedule K)

15 Salaries and wages

16 Repairs and maintenance

17 Bad debts

18 Interest (attach schedule)

19 Taxes and licenses

20 Charitable contributions (See instructions for limitation rules.)

21 Depreciation (attach Form 4562) 21

14

15

19.389.

16

17

18

19

20

22b

22 Less depreciation claimed on Schedule A and elsewhere on return 22a

23 Depletion

24 Contributions to deferred compensation plans

25 Employee benefit programs

26 Excess exempt expenses (Schedule I)

27 Excess readership costs (Schedule J)

28 Other deductions (attach schedule) SEE STATEMENT 8

29 Total deductions. Add lines 14 through 28

30 Unrelated business taxable income before net operating loss deduction. Subtract line 29 from line 13

31 Net operating loss deduction (limited to the amount on line 30)

32 Unrelated business taxable income before specific deduction. Subtract line 31 from line 30

33 Specific deduction (Generally $1 ,000, but see instructions for exceptions)

34 Unrelated business taxable income. Subtract line 33 from line 32. It line 33 is greater than line 32, enter the smaller
of zero or line 32

23

24

25

26

27

28

3.310.

29

22.699.

30

4.410.

31

4.410.

32

0.

33

34

0.

ov3o^7 LHA For Privacy Act and Paperwork Reduction Act Notice, see instructions.

Form 990-T (2006)

2007 AMENDED FORM 990-T ATTACHMENT

FRIENDS OF THE GREENSBORO PUBLIC LIBRARY 01-0674221

FORM 990-T OTHER DEDUCTIONS STATEMENT 9

DESCRIPTION AMOUNT

SUPPLIES 1,294.

BANK FEES 254.

PROFESSIONAL FEES 1,545.

REPAIRS 259.

TOTAL TO FORM 990-T, PAGE 1, LINE 28 3,352.

STATEMENT(S) 9

2007 AMENDED FORM 990-T ATTACHMENT
FRIENDS OF THE GREENSBORO PUBLIC LIBRARY

01-0674221

FOOTNOTES

STATEMENT 8

NET OPERATING LOSS CARRYFORWARD TO 2009

CURRENT YEAR NET OPERATING LOSS 10,747.

PORTION CARRIED BACK TO 2006 <4,410.>

PORTION CARRIED BACK TO 2007 <1,697.>

NET OPERATING LOSS AVAILABLE FOR CARRYFORWARD TO 2009 4,640.

STATEMENT(S) 8

2007 AMENDED FORM 990-T ATTACHMENT

FRIENDS OF THE GREENSBORO

Form 990-T (2008) PUBLIC LIBRARY. INC. 01-0674221

Schedule G - Investment Income of a Section 501(c)(7), (9), or (17) Organization

(see instructions on page 21)

i Description of income

2 Amount of income

3 Deductions
directly connected
(attach schedule)

4 Set-asides
(attach schedule)

5 Total deductions
and set-asides
(col 3 plus col 4)

(1)

(2)

(3)

(4)

Totals ^

Enter here and on page 1,
Part 1, ImeO. column (A)

0.

Enter here and on page 1,
Part 1, line 9, column (B).

0.

Schedule I - Exploited Exempt Activity Income, Other Than Advertising income

(see instructions on page 21)

1 Description of
exploited activity

2 Gross

unrelated business
income from
trade or business

3 Expenses
directly connected
with production
of unrelated
business income

4 Net income (loss)
from unrelated trade or
business (column 2
minus cxstumn 3) if a
gain, compute cots 5
through 7

5 Gross income
from activity that
IS not unrelated
business income

6 Expenses
attributable to
column 5

7 Excess exempt
expenses (column
6 minus column 5,
but not more than
column 4)

(1)

(2)

(3)

(4)

Totals ►

Enter here and on
page 1, Part I,
line 10, col (A)

0.

Enter here and on
page 1. Part (,
line 10, col (B\

0.

Enter here and
on page 1 ,

Part II, line 20

0.

Schedule J - Advertising Income (see mstmctions on page 2i)

Part I Income From Periodicals Reported on a Consolidated Basis

1 Name of periodical

2 Gross
advertising
income

3 Direct

advertising costs

4 Advertising gam
or (loss) (col 2 minus
col 3) tf again, compute
cols 5 through 7

5 Circulation
income

6 Readership
costs

7 Excess readership
costs (column e minus
column 5, but not more
than column 4).

(1)

(2)

(3)

(4)

■■I—

0.

0.

Part II

Income From Periodicals Reported on a Separate Basis

(For each penodical listed in Part II, fill in

columns 2 through 7 on a line-by-lme basis.

)

1 Name of periodical

j

2 Gross
advertising
income

3 Direct

advertising costa

4 Advertising gam
or(loss)(OTl 2 minus
col 3V If a gam. compute
cols. 5 through 7

5 Circulation
income

6 Readership
costs

7 Excess readership
costs (column 6 minus
column 5, but not more
than column 4).

(1)

(2)

(3)

(4)

(5) Totals from Part 1

0.

0.

0.

Totals. Part II (lines 1-5) ►

Enter here and on
page 1, Part 1,
line 11, col (A).

0.

Enter here and on
page 1 , Part 1.
line 11. col (B).

0.

Enter here and
on page 1,

Part II, line 27

0.

Schedule K - Compensation of Officers, Directors, and Trustees (see instructions on page 22)

1 Name

2 Titia

3 Percent of
time devoted to
business

4 Compensation attributable
to unrelated business

RENEE GRIFFIN

PRESIDENT

0.

LOUISE COURTS

VICE PRESIDENT

mmm

0.

ANDREW SPAINHOUR

TREASURER

0.

EILEEN PORTER

SECRETARY

. 0 0%

0.

Total. Enter here and on oaae 1. Part II. line 14

►

0.

Form 990-T (2008)

823731

03-09-09

2007 AMENDED FORM 990-T ATTACHMENT
FRIENDS OF THE GREENSBORO

Form 990-T (2008) pnRT.TP T.TRRAHY. TNC. ni Pago 3

Schedule C - Rent Income (From Real Property and Personal Property Leased With Real Property)(see mstr. on pg 19)

1 Description of property

2 Rent received or accrued

Is) From persona) property (if the percentage of
' rent for personal property is more than
10% but not more than 50%)

|b) ^rom real and personal property (if the percentage
'of rent for personal property exceeds 50% or if
the rent is based on profit or income)

3(a) Deductions directly connected with the income ii
columns 2(a) and 2(b) (attach schedule)

(c) Total income. Add totals of columns 2(a) and 2(b). Enter

here and on page 1, Part I, line 6, column (A) ►

Schedule E - Unrelated Debt-Financed Income (See instructions on page 19)

1 Description of debt-financed prdperty

2 Gross income from
or allocable to debt-
financed property

3 Deductions directly connected with or allocable
to debt-financed property

(&) Straight line depreciation (b) Other deductions

(attach schedule) (attach schedule)

4 Amount of average acquisition
debt on or allocable to debt-financed
property (attach schedule)

5 Average adjusted basis
of or allocable to
debt-financed property
(attach schedule)

6 Column 4 divided
by column 5

7 Gross income
reportable (column
2 X column 6)

8 Allocable deductions
(column 6 X totaJ of columns
3(a) and 3(b))

Schedule F - Interest, Annuities, Royalties, and Rents From Controlled Organizations (See instructions on page 20)

Exempt Controlled Organizations

1 Name of controlled organization

2

Employer identification
number

3

Net unrelated income
(loss) (see instructions)

4

Total of specified
payments made

5 Part of column 4 that is
included in the controlling
organization's gross income

6 Deductions directly
connected with income
in column 5

Nonexempt Controlled Organizations

7 Taxable Income

8 Net unrelated income (loss)
(see instructions)

9 Total of specified payments
made

10 Rart of column 9 that is included
in the controlling organization's
gross income

1 1 Deductions directly connected
with income in column 10

Totals

823721 03-09-09

0

0 _^

Form 990-T (2008)

01-0674221

Page 4

FRIENDS OF THE GREENSBORO

Form 9flO-T (2007) PUBLIC LIBRARY. INC.

'Schedule G - Investment Income of a Section 501(c)(7), (9), or (17) Organization

(see instaictions on page 22)

1 Description of income

2 Amount of income

3 Deductions
directly connected
(attach schedule)

4 Set-asides
(attach schedule)

5 Total deductions
and set-asides
(col 3 plus col 4)

(1)

(2)

(3)

(4)

Enter here and on page 1 ,

Enter here and on page 1,

Part i. line 0, column (A)

Part I, line 9, column (B)

Totals ^

miHiiiis

0.

Schedule I - Exploited Exempt Activity Income, Other Than Advertising Income

(see instructions on page 22)

1 Description of
exploited activity

2 Gross

unrelated business
income from
trade or business

3 Expenses
directly connected
with production
of unrelated
business income

4 Net income
(toss) from
unrelated trade
or business
(column 2 minus
column 3) If a
gam, compute
cols 5 through 7

5 Gross income
from activity that
IS not unrelated
business income

6 Expenses
attributable to
column 5

7 Excess exempt
expenses (column
0 minus column 5,
but not more than
column 4)

(1)

(2)

(3)

(4)

Totals ^

Enter here and on
page l. Part 1,
line 10. col (A)

0.

Enter here and on
page 1, Part 1,
line 10, col (8)

0.

Enter here and
on page 1.

Part II, line 26

0.

Schedule J - Advertising Income (see instructions on page 22)

Part I Income From Periodicals Reported on a Consolidated Basis

1 Name of periodical

2 Gross
advertising
income

3 Direct
advertising costs

4 Advertising
gam or (loss) (col
2 minus col 3) If
a gam, compute
cols 5 through 7

5 Circulation
income

g Readership
costs

7 Excess
readership costs
(column 6 minus
column 5, but not
more than
column 4)

(1)

(2)

(3)

(4)

0.

0.

0.

Part II

Income From Periodicals Reported on a Separate Basis (For each penodicai listed m Part ii, fiii m
columns 2 through 7 on a line-by-line basis )

(1)

(2)

(3)

(4)

(5) Totals from Part 1

0.

Totals, Part II (lines 1-5) ►

Enter here and on
page 1, Part I,
line 11. col (A)

0.

Enter here and on
page 1, Part I
line 11, col (B)

0.

Enter here and
on page 1,

Part II, line 27

0.

Schedule K - Compensation of Officers, Directors, and Trustees (see instructions on page 23)

1 Name

2 Title

3 Percent of
time devoted to
business

4 Compensation attributable
to unrelated business

RENEE GRIFFIN

PRESIDENT

0.

LOUISE COURTS

VICE PRESIDENT

. 00%

0.

BARRY STRULSON

TREASURER

0.

EILEEN PORTER

SECRETARY

0.

Total. Enter here and on page 1, Part II, line 14

►

0.

Form 990-T (2007)

723731

02-18-08

FRIENDS OF THE GREENSBORO PUBLIC LIBRARY

01-0674221

FOOTNOTES

STATEMENT 6

AMENDED RETURN:

CARRYBACK OF NET OPERATING LOSS FROM 2008 RETURN -10,747.

NET OPERATING LOSS CARRIED BACK TO 2006 4,410.

AMOUNT OF NET OPERATING LOSS AVAILABLE FOR 2007 CARRYBACK -6,337.

AMOUNT OF NET OPERATING LOSS AVAILABLE FOR CARRYFORWARD 2009 4,640.

NET OPERATING LOSS DEDUCTED, LINE 31 PART II -1,697.

STATEMENT(S) 6

FRIENDS OF THE GREENSBORO PUBLIC LIBRARY

01-0674221

FORM 990-T OTHER DEDUCTIONS STATEMENT 7

DESCRIPTION AMOUNT

SUPPLIES 558.

BANK FEES 364.

PROFESSIONAL FEES 1,140.

INCOME TAXES 105.

TOTAL TO FORM 990-T, PAGE 1, LINE 28 2,167.

STATEMENT(S) 7

Form 990-T (2008)

2007 AMENDED FORM 990-T ATTACHMENT
FRIENDS OF THE GREENSBORO

PUBLIC LIBRARY. INC.

01-0674221

Page 2

Part III I Tax Computation

ll.

li.

35 Organizations Taxable as Corporations. See instructions for tax com putati on.

Controlled group members (sections 1561 and 1563) check here ► I I See instructions and:

a Enter your share of the $50,000, $25,000, and $9,925,000 taxable income brackets (in that order):

(1) l$ I (2) l$ I (3) l$

b Enter organization's share of: (1) Additional 5% tax (not more than $1 1,750)

(2) Additional 3% tax (not more than $100,000)
c Income tax on the amount on line 34

36 Trusts Taxable at Trust Rate s. Se e instructions for tax computation. Income tax on the amount on line 34 from:

I I Tax rate schedule or I I Schedule D (Form 1041)

37 Proxy tax. See instructions

38 Alternative minimum tax

39 Total. Add lines 37 and 38 to line 35c or 36. whichever applies

►

►

3Sc

36

37

38

39

Part IV I Tax and Payments

40a Foreign tax credit (corporations attach Form 1 1 18; trusts attach Form 1 1 16)

40a

b Other credits (see instructions)

40b

c General business credit Attach Form 3800

40c

d Credit for prior year minimum tax (attach Form 8801 or 8827)

40d

e Total credits. Add lines 40a through 40d

40e

41 Subtract line 40e from line 39

41

42 Other taxes. Check if from: I 1 Form 4255 1 1 Form 861 1 I 1 Form 8697 I ] Form 8866 1 1 Other (attach schedule)

42

43 Total tax. Add lines 41 and 42

43

44 a Payments: A 2007 overpayment credited to 2008

44a

b 2008 estimated tax payments

44b

c Tax deposited with Form 8868

44c

d Foreign organizations; Tax paid or withheld at source (see instructions)

44d

e Backup withholding (see instructions)

44e

1 Other credits and payments: 1 1 Form 2439

1 1 Form 4136 1 1 Other Total ►

i

44f

45

46

47

48

49

Total payments. Add lines 44a through 44f

Estimated tax penalty (see instructions). Check if Form 2220 is attached ► I I
Tax due. If line 45 is less than the total of lines 43 and 46, enter amount owed
Overpayment. If line 45 is larger than the total of lines 43 and 46, enter amount overpaid
Enter the amount of line 48 you want Credited to 2009 estimated tax ►

Refunded

►

►

45

46

47

48

49

_Qj

0 ,

PartV Statements Regarding Certain Activities and Other Information (See instructions on page 18)

At any time during the 2008 calendar year, did the organization have an interest in or a signature or other authority over a financial account
(bank, securities, or other) in a foreign country? If YES, the organization may have to file Form TD F 90-22.1, Report of Foreign Bank and
Financial Accounts. If YES, enter the name of the foreign country here ►

During the tax year, did the organization receive a distribution from, or was it the grantor of. ot transferor to, a foreign trust?
If YES, see page 5 of the instructions for other forms the organization may have to file

Enter the amount of tax-exempt interest received or accrued during the tax vear^S

Yes

No

X

X

Schedule A - Cost of Goods Sold. Enter method of inventory valuation ^

N/A

1 Inventory at beginning of year

2 Purchases

3 Cost of labor

4 a Additional section 263A costs
b Other costs (attach schedule)

5 Total. Add lines 1 through 4b

1

2

32.145.

3

4a

4b

5

32.145.

6 Inventory at end of year

7 Cost of goods sold. Subtract line 6
from line 5. Enter here and in Part I, line 2

8 Do the rules of section 263A (with respect to

property produced or acquired for resale) apply to
the organization?

0 .

32.145.

Yes

No

X

Sign

Here

Under penalties of perjury. I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true,
correct, and complete Declaration of preparer (other than taxpayer) is based on all infomation of which preparer has any knowledge

^ ^ ^ ^ TREASURER

May the IRS discuss this return with
the preparer shown below (sea
instructions)? 1 X 1 YeS 1 1 NO

Signature of officer Date r Title

Preparer's ^

signature FjOHNNY C. WOOD. CPA

Date

02/03/10

Check if

self-employed | _|

Preparer's SSN or PTIN

P00370070

Paid

Preparer’s
Use Only

yZs™'" HAYNES STRAND AND COMPANY PLLC
employedX ^PO BOX 10949

address, and V

zipcode r GREENSBORO. NORTH CAROLINA 27404-

EIN 56-1582677

Phone no.

336-286-3204

Form 990-T (2008)

823711 03-OS-09

2007 AMENDED FORM 990-T ATTACHMENT

Form "SSO-T

Department of the Treasury
Internal Revenue Service

Exempt Organization Business Income Tax Return

(and proxy tax under section 6033(e))

For calendar year 2008 or other tax year beginning iJULi X • 2008 ■ ending JUN 30# 2009

MMil

A 1 1 Check box If

address changed

Print

or

Type

Name of organization ( I | Check box if name changed and see instructions.)

FRIENDS OF THE GREENSBORO
PUBLIC LIBRARY. INC.

Q Employer identification number
(Employees' trust, see instructions
for Block D on page 9 )

01-0674221

B Exempt under section
S]501(c)(3 )

□ 408(e) 1 1220(e)

□ 408A □S30(a)

1 1529(a)

E Unrelated business activity codes
(See instructions for Block E
on page 9 )

722210

City or town, state, and ZIP code

GREENSBORO. NC 27402 ^ LI

C Book value of all assets
at end of year

35.700.

F Group exemption number (See instructions for Block F.) ►

G Check organization type ► LXJ 501(c) corporation I I 501(c) trust 1 I 401(a) trust 1 1 Other trust

H Describe the organization's primary unrelated business activiW. ► SALES OF COFFEE AND BAKED GOODS

I During the tax year, was the corporation a subsidiary in an affiliated group or a parent-subsidiary controlled group? ^ I I Yes I X I No

If 'Yes.' enter the name and identifying number of the parent corporation. ►

J The books are in care of ► ANDREW SPAINHOUR Telephone number ► 336-373-4100

Parti

Unrelated Trade or Business Income

(A) Income

(B) Expenses

(C) Net

la Gross
b Lessi
2 Cost (

; receipts or sales 54,697.

returns and allowances c Balance ^

1c

If goods sold (Schedule A Ime 7)

2

32.145.

3 Gross profit Subtract line 2 from line 1c

4 a Capital gam net income (attach Schedule 0)

b Net gam (loss) (Form 4797, Part II, line 17) (attach Form 4797)
c Capital loss deduction for trusts

5 Income (loss) from partnerships and S corporations (attach statement)

6 Rent income (Schedule C)

7 Unrelated debt-financed income (Schedule E)

8 Interest annuities, royalties, and rents from controlled organizations (Sch. F)

9 Investment income of a section 501(c)(7), (9), or (17) organization
(Schedule G)

10 Exploited exempt activity income (Schedule 1)

1 1 Advertising income (Schedule J)

12 Other income (See instructions; attach schedule.)

13 Total. Combine lines 3 through 12

3

22.552.

4a

4b

4c

5

6

7

8

9

10

11

12

13

22.552.

Part II

Deductions Not Taken Elsewhere (see instructions for limitations on deductions.)

(Except for contnbutions, deductions must be directly connected with the unrelated business income )

1 4 Compensation of officers, directors, and trustees (Schedule K)

15 Salaries and wages

16 Repairs and maintenance

17 Bad debts

18 Interest (attach schedule)

19 Taxes and licenses

20 Charitable contributions (See instructions for limitation rules.)

21 Depreciation (attach Form 4562) 21

14

15

29.947.

16

17

18

19

20

22b

22 Less depreciation claimed on Schedule A and elsewhere on return 22a

23 Depletion

24 Contributions to deferred compensation plans

25 Employee benefit programs

26 Excess exempt expenses (Schedule 1)

27 Excess readership costs (Schedule J)

2B Other deductions (attach schedule) SEE STATEMENT 9

29 T Ota) deductions. Add lines 1 4 through 28

30 Unrelated business taxable income before net operating loss deduction. Subtract line 29 from line 13

31 Net operating loss deduction (limited to the amount on line 30)

32 Unrelated business taxable income before specific deduction. Subtract line 31 from line 30

33 Specific deduction (Generally $1,000, but see instructions for exceptions)

34 Unrelated business taxable income. Subtract line 33 from line 32. If line 33 is greater than line 32, enter the smaller
of zero or line 32

23

24

25

26

27

28

3.352.

29

33,299.

30

<10. 747. >

31

32

<10, 747. >

33

34

3 -os ^9 CHA For Privacy Act and Paperwork Reduction Act Notice, see instructions. Form 990-T (2008)

, FRIENDS OF THE GREENSBORO

Form 900-T (2007) PTTm.TP T.TRRAPY TTJr. Page 3

. Schedule C - Rent Income (From Real Property and Personal Property Leased With Real Property)(see mstr. on pg 20)

1 Description of property

2 Rent received or accrued

From personal property (if the percentage of
’ rent for personal property is more than
10% but not more than 50%)

^eal and person^ property (if the percentage
'of rent for personal property exceeds 50% or if
the rent is based on profit or income)

3 Deductions directly connected with the income in
columns 2(a) and 2(b) (attach schedule)

Total income. Add totals of columns 2(a) and 2(b). Enter
here and on page 1, Part I, line 6, column (A)

Schedule E - Unrelated Debt-Financed Income (See instructions on page20)

1 Description of debt-financed property

2 Gross income from
or allocable to debt-
financed property

Total deductions

Enter here and on page 1,
Part I, line 6. column (B)

3 Deductions directly connected with or allocable
to debt-financed property

I Straight line depreciation
(attach schedule)

(b) Other deductions
(attach schedule)

4 Amount of average acquisition
debt on or allocable to debt-financed
property (attach schedule)

5 Average adjusted basis
of or allocable to
debt-financed property
(attach schedule)

S Column 4 divided
by column 5

7 Gross income
reportable (column
2 X column 6)

8 Allocable deductions
(column 6 X total of columns
3(a) and 3(b))

Schedule F - Interest, Annuities, Royalties, and Rents From Controlled Organizations (See instructions on page 21)

1 Name of Controlled Crganization

Employer Identification
Number

Exempt Controlled Organizations

3

4

5 Part of column 4 that is

6 Deductions directly

Net unrelated ino>me

Total of specified

included in the controlling

connected with income

(loss) (see instructions)

payments made

organization's gross income

in column (5)

Nonexempt Controlled Organizations

7 Taxable income

8 Net unrelated income (loss)
(see instructions)

9 Total of specified payments
made

10 Part of column 9 that is included
in the controlling organization's
gross income

1 1 Deductions directly connected
with income in column 10

Totals

723721 /02-10-08

0

0 _^

Form 990-T (2007)

FRIENDS OF THE GREENSBORO

Form 900-T (2007) PUBLIC LIBRARY. INC.

01-0674221

Page 2

Part III I Tax Computation

li.

35 Organizations Taxabie as Corporations. See instructions for tax com putati on.

Controlled group members (sections 1561 and 1563) check here ► I I See instructions and:

a Enter your share of the $50,000, $25,000, and $9,925,000 taxable income brackets (in that order):

(1) l$ I (2) l$ I (3) [|

b Enter organization's share of: (1) Additional 5% tax (not more than $11,750)

(2) Additional 3% tax (not more than $100,000)
c Income tax on the amount on line 34

36 Trusts Taxable at Trust Rates. See instructions for tax computation. Income tax on the amount on line 34 from:

I I Tax rate schedule or I I Schedule D (Form 1041)

37 Proxy tax. See instructions

38 Alternative minimum tax

39 Total. Add lines 37 and 38 to line 35c or 36. whichever applies

►

►

35c

36

37

38

39

Part IV I Tax and Payments

40a

40b

40c

40d

40a Foreign tax credit (corporations attach Form 1118; trusts attach Form 1 1 16)
b Other credits (see instructions)

c General business credit. Check here and indicate which forms are attached;

I I Form 3800 I I Form(s) (specify) ►

41

42

43

Credit for prior year minimum tax (attach Form 8801 or 8827)

Total credits. Add lines 40a through 40d
Subtract line 40e from line 39

Other taxes. Check if from: I I Form 4255 I I Form 861 1 I I Form 8697 I I Form 8866 I I Other (attach schedule)
Total tax. Add lines 41 and 42
44a Payments: A 2006 overpayment credited to 2007
b 2007 estimated tax payments
Tax deposited with Form 8868

Foreign organizations: Tax paid or withheld at source (see instructions)

Backup withholding (see instructions)

Othe r credits and payments: I I Form 2439

I I Form 4136 □ Other

Total ►

44a

44b

44c

105.

44d

44e

44f

45 Total payments. Add lines 44a through 44f

46 Estimated tax penalty (see instructions). Check if Form 2220 is attached ► I I

47 Tax due. If line 45 is less than the total of lines 43 and 46, enter amount owed

48 Overpayment. If line 45 is larger than the total of lines 43 and 46, enter amount overpaid

49 Enter the amount of line 48 you want; Credited to 2008 estimat ed tax ►

Refunded

►

►

40e

41

42

43

45

46

47

48

49

105,

105,

105,

Part V Statements Regarding Certain Activities and Other Information (See instructions on page 18 )

At any time during the 2007 calendar year, did the organization have an interest in or a signature or other authority over a financial account
(bank, securities, or other) in a foreign country^ If YES, the organization may have to file Form TD F 90-22.1. If YES, enter the name of the
foreign country here ►

During the tax year, did the organization receive a distribution from, or was it the grantor of, or transferor to, a foreign trust?

If YES, see page 5 of the instructions for other forms the organization may have to file

Enter the amount of tax-exempt interest received or accrued during the tax vear^$

Yes

No

X

Scheduls A - Cost of Goods Sold. Enter method of inventory valuation ^ N/A

1

0.

2

29.455.

3

4a

4b

5

29.455.

1 Inventory at beginning of year

2 Purchases

3 Cost of labor

4a Additional section 263A costs
b Other costs (attach schedule)
5 Total. Add lines 1 through 4b

6 Inventory at end of year

7 Cost of goods sold. Subtract line 6
from line 5. Enter here and in Part I, line 2

8 Do the rules of section 263A (with respect to

property produced or acquired for resale) apply to
the organization'?

29.455

Yes

No

X

Sign

Here

Under penalties of perjury. I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true,
correct, and complete Declaration of preparer (other than taxpayer) is based on all infoimation of which preparer has any knowledge

► I k_TB

Signature of officer Date V Title

TREASURER

May the iRS discuss this return with
the preparer shown below (see

instructions)? fx1 Yes I I No

Paid

Preparer’s
Use Only

Preparer's ^
signature rjQHNNY

Date

Check if

Preparer's SSN or PTIN

C. WOOD. CPA

12/08/09

self-employed 1 1

P00370070

yoITs™'" HAYNES STRAND AND COMPANY PLLC
employed), ^PO BOX 10949

address, and ^ *

ZIP code r GREENSBORO. NORTH CAROLINA 27404-

ElN 56-1582677

Phone no. 336-286-3204

723711 / 02 - 18-08

,990-T

( 2007 )